Ruling party vows support for Gov’t bill to curb high prices

Mamuka Mdinaradze, the head of the ruling Georgian Dream party in the Parliament, on Monday pledged support for the Government's forthcoming bill for regulating high prices on various products in the country.

• PM announces bill on fair trade to combat high prices on food, oil

Speaking to the media, the lawmaker stressed the legislative body would act with the Government to respond to existing challenges for the country, pledging the Parliament would discuss the bill “in detail”. 

He also noted it was “important” for citizens to “feel the benefits” of the double-digit economic growth through a reduction in inflation. 

Prime Minister Irakli Garibashvili on Monday instructed the country’s Economy Ministry to draft the bill to ensure reduction in domestic prices, particularly on food and oil.

The legislative initiative will be “related to the European directive on fair trade”, the PM said, and is expected to define margins and prices, with retails also offering predefined rules.